Fernando Chui has won an uncontested election to assume the role of Macau’s next chief executive. Being the only nominee for the job, Chui looks to generate a recovery for casinos that have been restricted by regulations and limits of mainland Chinese visitors and economic downturn.

Chui will take over the role from Edmund Ho, who governed Macau since December 1999. Ho administered Macau through its dramatic change of allowing competition in 2002 to end a four decade monopoly held by billionaire Stanley Ho.

Chui is seen to have good relations with the mainland. With Macau’s economy highly dependent on the restrictions placed on mainland Chinese and gambling, it is seen that Chui might be able to ease restrictions to ensure further traffic flow to Macau’s casinos. Currently, China limits its citizens to travel to Macau only once every two months, a reduction from once a month and unlimited travel..

Recent job cuts and cancelled construction projects have left Macau’s unemployment at a two year high of 3.8 percent. All the casinos are looking at an upswing for better business.

Digg

Del.icio.us

Reddit

StumbleUpon

Email this page to a friend
Go to the Message Boards
Contact the editor